HARRISBURG, Pa., Sept. 27, 2017 /PRNewswire-USNewswire/ -- The Pennsylvania Liquor Control Board (PLCB) today released unaudited financial results for fiscal year 2016-17 that reflect record retail sales of $2.53 billion (including liquor and sales taxes), a $95.5 million or 3.9 percent increase over the prior year and previous retail sales record. PLCB contributions to state and local government beneficiaries totaled $764.7 million for the fiscal year, an increase of $138.4 million, or 22.1 percent, over the prior year and previous record.
Contributions to the General Fund, which finances Pennsylvania's schools, health and human services programs, law enforcement, and public safety initiatives, among other important public services, totaled $720.6 million, a $136.9 million, or 23.5 percent, increase over the prior year and previous record. General Fund contributions consisted of the following:
- $361.9 million in liquor tax;
- $142 million in state sales tax; and
- $216.7 million in cash transfers.
Other PLCB contributions over the course of the fiscal year included the following:
- $28.1 million to the Pennsylvania State Police for liquor control enforcement efforts;
- $9.1 million in local sales taxes to Philadelphia and Allegheny county;
- $4.5 million in licensing fees returned to local municipalities; and
- $2.5 million to the Department of Drug and Alcohol Programs.
Net income for the year totaled $104.9 million, a $1 million, or 1 percent, increase over the prior year. Net income growth is attributable to increases in license fees (surcharges) of $17.9 million and gross profit growth of $16.3 million. Such growth, however, was substantially offset by a $30.3 million increase in operating expenses. Net income as a percentage of sales declined to 5.2 percent from 5.4 percent the prior year.
The PLCB regulates the distribution of beverage alcohol in Pennsylvania, operates more than 600 wine and spirits stores statewide and licenses more than 20,000 beverage alcohol producers and retailers. The PLCB also works to reduce and prevent dangerous and underage drinking through partnerships with schools, community groups and licensees. Taxes and store profits – totaling $15.8 billion since the agency's inception – are returned to Pennsylvania's General Fund, which finances Pennsylvania's schools, health and human services programs, law enforcement, and public safety initiatives, among other important public services. The PLCB also provides financial support for the Pennsylvania State Police Bureau of Liquor Control Enforcement, the Department of Drug and Alcohol Programs, other state agencies and local municipalities across the state.
For more information about the PLCB and to review the unaudited fiscal year 2016-17 financials, visit www.lcb.state.pa.us.
MEDIA CONTACT: Elizabeth Brassell, 717.783.8864
View original content:http://www.prnewswire.com/news-releases/pennsylvania-liquor-control-board-reports-record-sales-and-contributions-to-state-and-local-governments-in-fiscal-year-2016-17-300526907.html
SOURCE Pennsylvania Liquor Control Board